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The chosen value is stored in the PhotometricInterpretation TIFF tag, which defines the color space, i.e. how to interpret the values of the bands. Example for a 3-band GeoTIFF defined as RGB: band 1 = red, band 2 = green, band 3 = blue. CMYK stands for the Cyan, Magenta, Yellow, blacK color space, etc.